NEW YORK (Reuters) - The Federal Reserve must not jump to conclusions now on what fiscal policies U.S. President-elect Donald Trump will pursue once in office but the U.S. central bank "will be on its toes" assessing their impact on the economy next year, Dallas Fed President Robert Kaplan said on Wednesday.

Addressing a group of economists, Kaplan said some of the Republican's policy plans would boost U.S. gross domestic product growth while some others would hurt GDP growth. The Fed "needs to make judgments based on facts we know now ... and be patient," he said, as the new fiscal picture unfolds.